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Your leadership team spends hundreds of hours agonizing over any one project's schedule—what workers should be hired for which phase of the project; what materials should be shipped to the site when; when and how often project owners should be brought in for a status update; and more. In a perfect world, each detail and project variable would be planned out. But then there's the world we live in, and it's not so perfect. MORE
Here are the major insurance issues to consider to avoid financial setbacks, as well as damage to professional and personal relationships MORE
Now however it turns out that we have been living in some sort of golden age for insurance, when premiums were in fact relatively low, and sometimes falling. Which could be shortsighted, because if contractors and others can’t afford insurance they dare not trade. MORE
General contractors, subcontractors and business owners risk substantial financial loss if they enter into contracts that are not supported by their insurance program. This risk has increased since the Insurance Services Office (ISO) made significant revisions to Additional Insured Endorsement forms in 2013, creating even more unexpected exposures and liabilities MORE
How does integrated project insurance differ from integrated project delivery? How does Integrated Project Insurance differ from Integrated Project Delivery? Integrated project insurance (IPI) protects integrated project delivery (IPD) teams from risks related to catastrophic natural disasters or project related accidents. The same is true of insurance products available to integrated teams. Integrated Project Insurance (IPI) appears to be a response to that mandate. MORE
Filing a roof replacement insurance claim may be your only chance of taking care of the necessary repairs and renovations, especially after a huge storm, water damage, or other calamities and catastrophes. This having been said, here are 5 tips for filing a roof replacement insurance claim. It’s important that before you file for roof replacement claim, take into account the particulars of the homeowner’s insurance policy. Contact the Insurance Policy. MORE
Tips on how to make sure your business and its equipment have the proper insurance coverages, without paying unnecessarily high premiums or putting yourself at risk MORE
According to a recent Press Release from Marsh , a leader in insurance broking and risk management, construction firms across the U.S. Insurance rates have been declining for close to a decade, but rates are forecasted to increase between 8 and 10 percent. Construction Practice, stated, “This comes against the backdrop of medical cost inflation and changes to some state statutes that have extended coverage beyond the insurers’ originally intended scope.” MORE
Yet, even as equipment has become safer, highway fatalities are increasing at an alarming rate, and insurance companies have targeted distracted driving from cell phone use as a contributing factor Thanks to new technology, our vehicles are getting smarter and safer every day, with programs to help manage everything from GPS navigation and blind spot detection to lane-departure notification and emergency braking. MORE
The construction insurance market is responding positively to these efforts, rewarding owners and builders that are operating their businesses efficiently and managing their risks properly with lower insurance premiums, broader coverage and higher limits As the United States construction market heats up, there is a renewed focus on improving operational efficiencies and embracing risk management strategies that could offer a meaningful financial impact. MORE
Originally slated to cost $93 million, insurance costs for the East Side Access tunnel have ballooned to $584 million MORE
Tips to save money and pick the right insurance for your winter snow removal business MORE
Guest posts contractor general contractor insurance main contractorWhile it’s true that life is a gamble, you should never risk what you can’t afford to lose. This principle holds weight in many different aspects of life, especially those that involve substantial risk – hiring a general contractor included. Though it’s relatively cheaper, going for an uninsured contractor isn’t a good idea. When you. MORE
Many of those challenges, even the insurance conundrums raised in this post, can be addressed through integrated agreement. Here, I want to highlight the need for a new generation of integrated insurance products designed to protect integrated team members. A new insurance product is needed. Currently integrated team members are insured under separate policies, and there are no insurance products available on the US market that fit the needs of an integrated team. MORE
The president/CEO of American Rental Association Insurance will retire at the end of February. Kelling has been with ARA Insurance since 1997, and led ARA Insurance to grow from a small insurance agency with four independent agents to MORE
What Home Builders Should Know About Liability Insurance. Beck dives into the details on how insurance companies are changing their coverages and how builders can protect themselves through these ever-changing times. cbroderick. Thu, 02/04/2021 - 12:41. MORE
In a case having broad implications given the wide mandatory recycling of restaurant waste cooking oil across the country, in a decision filed on April 29, 2019, a federal appeals court held that contaminated recycled fat could trigger the “pollution exclusion” in an insurance policy. Restaurant Recycling, in turn, sued Employer Mutual Casualty Company, seeking a declaratory judgment that the insurer had a duty to defend and indemnify Restaurant Recycling. MORE
Well, now at least one insurance company believes that, as well. I’ve admittedly been focused mainly on the productivity gains from using technology, but getting a discount from an insurance company to use it is an interesting side effect. courtesy of Procore. MORE
How your services, clients and other factors affect your landscaping or lawn care business insurance needs MORE
One approach is to require one party to list the other, protected party as an additional insured on its own purchased insurance policies, thereby giving the protected party direct access to insurance coverage. There are numerous ways that contract parties can shift the risk of certain types of losses between each other. MORE
Contractors who have equipment, property and unfinished work need to report any flood, wind or wind driven rain damage to your general liability insurer in a timely fashion so that you may collect reimbursement for damages sustained from this storm. Your insurer will assign a claims specialist to assess the damage and this person is who you will work with to obtain reimbursement. Remember to consult with an attorney or your insurance agent when reviewing the terms of your policy. MORE
One pandemic insurance product was introduced in 2018 MORE
Construction companies — along with their workers and insurance companies — see the potential for safety improvements through wearables but still yearn for more evidence of returns on investment MORE
Insurance companies offer usage-based insurance (UBI) in the automotive industry, but heavy equipment managers will probably not find anything similar for several years. UBI uses telematics to tie insurance costs to the way a vehicle is operated. MORE
With the start of a new year, the construction insurance market is showing signs of ambivalence from most insurers. Insurance underwriters will likely focus on keeping existing clients happy (through pricing flexibility, broad coverages and service commitments), while simultaneously trying to grow business. MORE
Twenty years ago, no one had heard of cyber insurance, and a hacker was someone with a cough. As recently as 10 years ago, many people still did not know how exposed they were to clandestine attacks on their data MORE
Reading and understanding an insurance policy on a construction project can be a lot like understanding my kids playing Speak Out. Proper insurance coverage is an important risk management tool for contractors, subcontractors, project owners/developers and design professionals. Nautilus Insurance Co. , The subcontract also required the subcontractor to include the contractor as an “Additional Insured” on its policy. MORE
Insurance companies cannot recover environmental cleanup costs paid to their insured under the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as Superfund, from another Potentially Responsible Party ( unless their insured had first pursued a separate claim to recover the cleanup costs from that PRP). Among the most common of the insurance coverages is a pollution legal liability policy. MORE
Louis made a presentation titled "BIM Claims and Insurance Coverage: A Survey of Recent Developments" at the BIM Forum in Arizona. Welcome to the Collaborative Revolution! Gregg Bundschuh's with Ames & Gough out of St. Approximately 30 claims have arisen from BIM utilization to date according to the Ames Grough presentation. The claims fall into 6 categories and most related to delay and cost overruns. For more information visit the BIM Forum Blog and read the complete post. MORE
Zurich North America offers Construction Weather Parametric Insurance does not require physical loss or damage in order to claim weather-related losses. MORE
If BIM is the New Standard of Care what the HE double sticks are the insurance companies doing? New insurance products that support and enable the creation of integrated teams and the delivery of BIM in an IPD environment won''t happen if the built industry sits back and waits for the insurance industry to respond. Insurance companies and their lawyers are inherently risk averse and want nothing to do with anything new. MORE
An insurance giant says its new project loss insurance can address estimating errors MORE
The Hartford Region is home to the headquarters of most of the leading global players in the insurance sector. The insurance industry generates more than $16 billion in output in the region, employing more than 70,000. MORE
Many contractors, subcontractors and developers often do not realize that there are perhaps dozens of exclusions buried in the hundreds of pages of these CGL insurance policies that allow an insurance company to deny coverage for these claims. Find out more here. MORE
Drones are well suited for applications in construction, agriculture, energy, wireless communications, insurance, search and rescue, law enforcement, firefighting, real estate, photography and film Unmanned aircraft systems (UAS), commonly referred to as drones, represent an enormous growth industry with potential uses across many trades. MORE
Like many businesses, the insurance industry is cyclical in nature. The insurance cycle is important to business owners because it directly impacts insurance premiums. As for insurance pricing today, Table 1 provides a historical picture of insurance industry rates calculated by MarketScout, with 2004 as the base year. MORE
Back in 2009 this blog reported on the very topic of Workers Compensation insurance, stating that 1 and 5 businesses are breaking workers compensation laws. The main reason being is due to the exorbitant price of this insurance on contractors. Although the price to insure all employees under workers comp insurance is high, the price that is paid if an accident happens to an uninsured worker is much higher. MORE
In commercial property insurance, facilities that incorporate added safety and risk avoidance measures, such as sprinkler systems, are considered a ‘Highly Protected Risk’ and can earn more favorable insurance rates and terms. With a greater adoption of technology on construction jobsites, the opportunity exists to extend more competitive insurance coverage and capacity for projects that are taking action to reduce risks. MORE
I was recently speaking with a client about the posture of a pending case and the client was surprised to know that nearly all of the insurance companies that were originally brought into the suit had whittled their way out due to policy limitations, lack of coverage and policy exclusions. Insurance companies are constantly, from year to year, changing the language of policies and inserting exclusions so as to limit exposure if there is an occurrence. MORE
Why you should work with an insurance broker who understands & takes steps to protect every aspect of your business operations. If your insurance broker is simply negotiating pricing and accepting the terms and conditions offered by carriers and underwriters, it is time to hire a new broker. MORE
Last summer, we learned that Travelers Insurance believed that using Procore as a project management tool helped contractors reduce risk on their projects so much that they were willing to help pay for them to join the platform. MORE
Insurance Related Topics Business Facilities
DECEMBER 30, 2020
The Hartford Region is home to the headquarters of most of the leading global players in the insurance sector. The insurance industry generates more than $16 billion in output in the region, employing more than 70,000.
Construction Law
MARCH 1, 2021
Now however it turns out that we have been living in some sort of golden age for insurance, when premiums were in fact relatively low, and sometimes falling. Which could be shortsighted, because if contractors and others can’t afford insurance they dare not trade.
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Construction Equipment
JANUARY 6, 2021
Zurich North America offers Construction Weather Parametric Insurance does not require physical loss or damage in order to claim weather-related losses.
Constructech
NOVEMBER 5, 2020
In commercial property insurance, facilities that incorporate added safety and risk avoidance measures, such as sprinkler systems, are considered a ‘Highly Protected Risk’ and can earn more favorable insurance rates and terms. With a greater adoption of technology on construction jobsites, the opportunity exists to extend more competitive insurance coverage and capacity for projects that are taking action to reduce risks.
Construction Equipment
JANUARY 10, 2020
The president/CEO of American Rental Association Insurance will retire at the end of February. Kelling has been with ARA Insurance since 1997, and led ARA Insurance to grow from a small insurance agency with four independent agents to
Construction Equipment
FEBRUARY 8, 2021
Insurance companies offer usage-based insurance (UBI) in the automotive industry, but heavy equipment managers will probably not find anything similar for several years. UBI uses telematics to tie insurance costs to the way a vehicle is operated.
Construction Marketing
SEPTEMBER 25, 2018
Filing a roof replacement insurance claim may be your only chance of taking care of the necessary repairs and renovations, especially after a huge storm, water damage, or other calamities and catastrophes. This having been said, here are 5 tips for filing a roof replacement insurance claim. It’s important that before you file for roof replacement claim, take into account the particulars of the homeowner’s insurance policy. Contact the Insurance Policy.
Lets Build
MARCH 21, 2019
Guest posts contractor general contractor insurance main contractorWhile it’s true that life is a gamble, you should never risk what you can’t afford to lose. This principle holds weight in many different aspects of life, especially those that involve substantial risk – hiring a general contractor included. Though it’s relatively cheaper, going for an uninsured contractor isn’t a good idea. When you.
ENR Construction
FEBRUARY 2, 2021
An insurance giant says its new project loss insurance can address estimating errors
Green Industry Professionals
JULY 14, 2016
Tips on how to make sure your business and its equipment have the proper insurance coverages, without paying unnecessarily high premiums or putting yourself at risk
Construction Business Owner
OCTOBER 30, 2015
Drones are well suited for applications in construction, agriculture, energy, wireless communications, insurance, search and rescue, law enforcement, firefighting, real estate, photography and film Unmanned aircraft systems (UAS), commonly referred to as drones, represent an enormous growth industry with potential uses across many trades.
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Construction Dive
FEBRUARY 22, 2018
Here are the major insurance issues to consider to avoid financial setbacks, as well as damage to professional and personal relationships
Construction Business Owner
AUGUST 16, 2018
Twenty years ago, no one had heard of cyber insurance, and a hacker was someone with a cough. As recently as 10 years ago, many people still did not know how exposed they were to clandestine attacks on their data
Construction Business Owner
JULY 6, 2016
The construction insurance market is responding positively to these efforts, rewarding owners and builders that are operating their businesses efficiently and managing their risks properly with lower insurance premiums, broader coverage and higher limits As the United States construction market heats up, there is a renewed focus on improving operational efficiencies and embracing risk management strategies that could offer a meaningful financial impact.
Collaborative Construction
SEPTEMBER 25, 2010
Many of those challenges, even the insurance conundrums raised in this post, can be addressed through integrated agreement. Here, I want to highlight the need for a new generation of integrated insurance products designed to protect integrated team members. A new insurance product is needed. Currently integrated team members are insured under separate policies, and there are no insurance products available on the US market that fit the needs of an integrated team.
Green Building Law Update
MAY 12, 2019
In a case having broad implications given the wide mandatory recycling of restaurant waste cooking oil across the country, in a decision filed on April 29, 2019, a federal appeals court held that contaminated recycled fat could trigger the “pollution exclusion” in an insurance policy. Restaurant Recycling, in turn, sued Employer Mutual Casualty Company, seeking a declaratory judgment that the insurer had a duty to defend and indemnify Restaurant Recycling.
Construction Business Owner
OCTOBER 14, 2015
General contractors, subcontractors and business owners risk substantial financial loss if they enter into contracts that are not supported by their insurance program. This risk has increased since the Insurance Services Office (ISO) made significant revisions to Additional Insured Endorsement forms in 2013, creating even more unexpected exposures and liabilities
Construction Law Monitor
SEPTEMBER 17, 2012
According to a recent Press Release from Marsh , a leader in insurance broking and risk management, construction firms across the U.S. Insurance rates have been declining for close to a decade, but rates are forecasted to increase between 8 and 10 percent. Construction Practice, stated, “This comes against the backdrop of medical cost inflation and changes to some state statutes that have extended coverage beyond the insurers’ originally intended scope.”
ENR Construction
APRIL 15, 2020
One pandemic insurance product was introduced in 2018
Pro Builder
FEBRUARY 4, 2021
What Home Builders Should Know About Liability Insurance. Beck dives into the details on how insurance companies are changing their coverages and how builders can protect themselves through these ever-changing times. cbroderick. Thu, 02/04/2021 - 12:41.
Construction Business Owner
JUNE 21, 2016
One approach is to require one party to list the other, protected party as an additional insured on its own purchased insurance policies, thereby giving the protected party direct access to insurance coverage. There are numerous ways that contract parties can shift the risk of certain types of losses between each other.
Construction Law Monitor
DECEMBER 27, 2012
Back in 2009 this blog reported on the very topic of Workers Compensation insurance, stating that 1 and 5 businesses are breaking workers compensation laws. The main reason being is due to the exorbitant price of this insurance on contractors. Although the price to insure all employees under workers comp insurance is high, the price that is paid if an accident happens to an uninsured worker is much higher.
Construction Business Owner
MAY 8, 2019
Your leadership team spends hundreds of hours agonizing over any one project's schedule—what workers should be hired for which phase of the project; what materials should be shipped to the site when; when and how often project owners should be brought in for a status update; and more. In a perfect world, each detail and project variable would be planned out. But then there's the world we live in, and it's not so perfect.
Green Industry Professionals
AUGUST 10, 2014
Tips to save money and pick the right insurance for your winter snow removal business
Construction Junkie
MARCH 16, 2021
Last summer, we learned that Travelers Insurance believed that using Procore as a project management tool helped contractors reduce risk on their projects so much that they were willing to help pay for them to join the platform.
Construction Dive
AUGUST 29, 2018
Construction companies — along with their workers and insurance companies — see the potential for safety improvements through wearables but still yearn for more evidence of returns on investment
Construction Law Monitor
SEPTEMBER 4, 2011
Contractors who have equipment, property and unfinished work need to report any flood, wind or wind driven rain damage to your general liability insurer in a timely fashion so that you may collect reimbursement for damages sustained from this storm. Your insurer will assign a claims specialist to assess the damage and this person is who you will work with to obtain reimbursement. Remember to consult with an attorney or your insurance agent when reviewing the terms of your policy.
Construction Business Owner
MARCH 25, 2015
With the start of a new year, the construction insurance market is showing signs of ambivalence from most insurers. Insurance underwriters will likely focus on keeping existing clients happy (through pricing flexibility, broad coverages and service commitments), while simultaneously trying to grow business.
Construction Business Owner
FEBRUARY 18, 2016
Like many businesses, the insurance industry is cyclical in nature. The insurance cycle is important to business owners because it directly impacts insurance premiums. As for insurance pricing today, Table 1 provides a historical picture of insurance industry rates calculated by MarketScout, with 2004 as the base year.
Construction Law Monitor
JULY 10, 2012
I was recently speaking with a client about the posture of a pending case and the client was surprised to know that nearly all of the insurance companies that were originally brought into the suit had whittled their way out due to policy limitations, lack of coverage and policy exclusions. Insurance companies are constantly, from year to year, changing the language of policies and inserting exclusions so as to limit exposure if there is an occurrence.
Construction Dive
AUGUST 2, 2018
Originally slated to cost $93 million, insurance costs for the East Side Access tunnel have ballooned to $584 million
Collaborative Construction
SEPTEMBER 5, 2013
If BIM is the New Standard of Care what the HE double sticks are the insurance companies doing? New insurance products that support and enable the creation of integrated teams and the delivery of BIM in an IPD environment won''t happen if the built industry sits back and waits for the insurance industry to respond. Insurance companies and their lawyers are inherently risk averse and want nothing to do with anything new.
Construction Business Owner
JUNE 8, 2017
Yet, even as equipment has become safer, highway fatalities are increasing at an alarming rate, and insurance companies have targeted distracted driving from cell phone use as a contributing factor Thanks to new technology, our vehicles are getting smarter and safer every day, with programs to help manage everything from GPS navigation and blind spot detection to lane-departure notification and emergency braking.
Construction Junkie
JULY 27, 2020
Well, now at least one insurance company believes that, as well. I’ve admittedly been focused mainly on the productivity gains from using technology, but getting a discount from an insurance company to use it is an interesting side effect. courtesy of Procore.
Best Practices Construction Law
FEBRUARY 21, 2018
Reading and understanding an insurance policy on a construction project can be a lot like understanding my kids playing Speak Out. Proper insurance coverage is an important risk management tool for contractors, subcontractors, project owners/developers and design professionals. Nautilus Insurance Co. , The subcontract also required the subcontractor to include the contractor as an “Additional Insured” on its policy.
Construction Business Owner
JUNE 18, 2018
Why you should work with an insurance broker who understands & takes steps to protect every aspect of your business operations. If your insurance broker is simply negotiating pricing and accepting the terms and conditions offered by carriers and underwriters, it is time to hire a new broker.
Collaborative Construction
JANUARY 24, 2010
Louis made a presentation titled "BIM Claims and Insurance Coverage: A Survey of Recent Developments" at the BIM Forum in Arizona. Welcome to the Collaborative Revolution! Gregg Bundschuh's with Ames & Gough out of St. Approximately 30 claims have arisen from BIM utilization to date according to the Ames Grough presentation. The claims fall into 6 categories and most related to delay and cost overruns. For more information visit the BIM Forum Blog and read the complete post.
Green Industry Professionals
MAY 11, 2015
How your services, clients and other factors affect your landscaping or lawn care business insurance needs
Green Building Law Update
FEBRUARY 12, 2014
Insurance companies cannot recover environmental cleanup costs paid to their insured under the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as Superfund, from another Potentially Responsible Party ( unless their insured had first pursued a separate claim to recover the cleanup costs from that PRP). Among the most common of the insurance coverages is a pollution legal liability policy.
Construction Business Owner
NOVEMBER 19, 2019
Many contractors, subcontractors and developers often do not realize that there are perhaps dozens of exclusions buried in the hundreds of pages of these CGL insurance policies that allow an insurance company to deny coverage for these claims. Find out more here.
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